Member Info for Mikiesunday

Jonah, your first figures should be close in respect of Project M as this was reported as 2% grade.

Project M has an average grade of 2% as per the original RNS. We musnt confuse the virgin rocks with processed tails. Remember the rocks havent been processed yet and as such are higher in grade than the tailings. The average tailings are 0.3% in grade, but recently leon referred to rocks as an average 1%, but could be much higher dependent on actual dump. project M is 2% and there is no surprise Leon has prioritised rocks because of their grade. A great tactic, take the richest pickings first. Bushey is just trying to confuse as usual, taking lowest figure and distorting the truth.

Plus Roan!

I believe Leon was quoting the rocks at 1%. Over triple that!

there are 2 modules at present, one at $6.5m and one at $3m. leon was hoping to squeeze a third in soon. as at the beginning of the month, all long lead items were secured on one and construction had begun. the other was on order. one point that does not get discussed here much is the faith zccm and the zambian government have in jubilee. zccm is, as i understand quite a considerable entity and will have some extremely senior and experienced staff. they obviously believe in jubilee. after a considerable tender process, they have selected jubilee for the mufulira **** project. are we supposed to believe zccm and the zambian government are clueless? i think not. also draslovka must believe in jubilee, not only to award an exclusive license in zambia, but the drc too. this is leaving the vast experience of the slater and fidelity houses to one side as mere financial wizards. these are hardcore industry specialists in the form of draslovk, zccm and the zambian mines ministry all backing jubilee.

Dorf, its such a shame when this happens, as some really good posts get taken down with the rubbish and lies that get posted here.

Thank you Shatner. I thought i was good at ramping! Thats why ive been here so many years and plan to stay for quite a few more!

edzi, i understand everyone is ****ed off with the share price. none more than me, but theres no point harping on about how bad or past mistakes. they’re done and spent. theres more than enough people on here assuming that role. some excessively! i happen to believe the company and have invested. the last 5 or 6 rns’s have been extremely positive and sentiment here has been very sour. i cant see what there has been to moan about in the last few months. comms are improving dramatically and the latest presentation is much better . whilst i very much appreciate your input and would have relished the chance to meet you at the agm, i note leon rejected you professionally and wonder if sometimes you are over critical of them because of this. i note you are very successful by your own admission and their efforts may not live up to your standards, but i believe their efforts have improved dramatically. maybe im just too positive by nature, but i do believe here. even if they dont crack the tailings, theres vast earnings in the rocks.

Yes Jonah, the DRC reference was the big reveal for me. They have an exclusive licence for both DRC and Zambia. I am guessing they must have real intent here, otherwise would have never been able to secure an exclusive licence. The opportunity here is vast. Leon stated there are 1 billion tonnes of rocks at surface in Zambia. Referring to the virgin mine waste, that has never been processed. This is higher in copper grade due to its virgin nature. So Leon states the average taiings contain 0.3% grade. So what equivalent are the rocks? 1 billion tonnes @ say 0.6% grade would be equivalent to 2 billion tonnes of tailngs. It would be interesting to know the average grade in rocks as this could be a much more substantial resource than perhaps the market understands. I dont think its any coincidence why they have prioritised these first and rolling out the modules as fast as they can. So my point, how many rocks are there in the DRC? What is their grade? How big is the opportunity just in Zambia and the DRC?

Bob up, they are definitely producing at Sable during this period, from direct feed stock. We will have to wait to Feb to see what that means in numbers.

Afternoon Jonah, i really need to listen again, but i do not recall any time specifications. However from the AGM , They were busy constructing the first module and upgrading Roan, with all parts on site. They were on schedule for completion during December, so no reason to assume otherwise. Overall Leon seemed supremely confident with Roan and the changes they were making leading to max capacity at Roan. His enthusiasm was undeniable, definitely a man on top of his game. He mentioned delays at the port, but this was more in regard to the expansion at Thutse. So shouldn't affect Roan and module 1, i believe, as all parts present. I guess this may have an impact on module 2, if they bring into SA, but i feel its weeks rather than months. Hopefully news on Roan in the next few weeks, would make a lovely Christmas present. Leon covered the mistakes of Roan again, mainly due to infrastructure problems and only able to take one type of feed source, limiting capacity. He also confirmed Sable is still operational and processing material, but to what extent is unknown.

I need to listen to that 2 or 3 times to really comprehend. But 2 points really stood out. Firstly we have an exclusive licence with Draslovka for Zambia and the Congo. Just proves intent to move into the Congo! This is unquestionably a monster in the making! Go get the Congo, Leon. Secondly the Mopani MOU is about to happen! That will give 31k tonnes of refining capacity plus copper solution and all in the near future. I get the feeling, the copper roll out is now going to make the chrome rollout look like a snail in comparison!

Dorf, it certainly would. But i am very hopeful now, the world economy is starting to pivot. China is stabilising their property sector. Inflation is gradually falling in the states, hopefully meaning no more rate rises, which means a weaker dollar. A weaker dollar naturally means higher dollar traded metal prices. Add in a gradual world recovery off the back of peak rates and who knows? This time next year Rodney? But one thing for sure, when the recovery comes, we will have 3 metals in play and not just PGM’s!

So over sold Sumo! Somethings gonna make a differencevsoon!

If its not Project M, Leon did want to squeeze another module in. If the cathode capacity is full, theres plenty of money to be made from copper solution.

Hopefully Sumo, could also be something linked to the Northern project. Maybe linked to Mopani. So much happening.

Seis, that really highlights the magnitude of Roan! I think we are going to get quite a comprehensive update on Roan,Friday. Hopefully they are very close to commissioning or maybe we even get a commissioning RNS, Friday morning. If so, cash flow will be considerably enhanced providing the key to the North.

Totally agree Jonah. @ HD, i would think the modules are very much proven and based on their lessons learnt from Roan and to a certain degree the extremely successful chrome roll out. The only concern here is rainy season and thousands of tons of material has to be moved to the Roan complex. Its no longer just Roan! You only have to look at the time lapse provided by Seis, to see the network of roads feeding Roan! Hopefully plenty of material gets through. This is the only risk now, in my mind. At least its a limited period risk.

Well Northern, it doesnt look like those warrants were taken up. Got to be good for all other shareholders.

Looking at todays discussion. The past 12/24 months are irrelevant now! Especially to prospective shareholders. Do you buy into a company at the top of the market ( HUM ) and still doing appallingly! Or do you buy into a company at the bottom, that is about to undertake a massive expansion? One that is severly over leveraged ( HUM) or one that is not. Simple in my mind.

Definitely seems to be a changing mood Jonah, even Hunt talking about cutting taxes. Hopefully were at that pivot movement. Had a close look at the presentation at the weekend and i note the expected 2,000 tonnes per annum from the module is assuming a feed grade of 1.5%. Whereas the RNS states a minimum grade of 2% for the life of mine contract and subsequent RNS states 3,000 tonnes per annum from a 20kt module. So if the feed stuff is a minimum grade of 2%, it would seed seem closer to 3k tonnes more likely. Makes a huge difference.